Invesco Ltd. Decreases Stock Position in Amalgamated Financial Corp. $AMAL

Invesco Ltd. trimmed its position in shares of Amalgamated Financial Corp. (NASDAQ:AMAL) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,605 shares of the company’s stock after selling 22,659 shares during the period. Invesco Ltd. owned approximately 0.39% of Amalgamated Financial worth $3,439,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Amalgamated Financial by 33.1% in the 1st quarter. Allianz Asset Management GmbH now owns 348,543 shares of the company’s stock valued at $10,021,000 after buying an additional 86,714 shares during the last quarter. Mariner LLC acquired a new position in shares of Amalgamated Financial in the fourth quarter worth about $262,000. BNP Paribas Financial Markets purchased a new position in Amalgamated Financial in the fourth quarter valued at about $1,402,000. Bank of America Corp DE boosted its holdings in Amalgamated Financial by 36.8% in the fourth quarter. Bank of America Corp DE now owns 76,888 shares of the company’s stock valued at $2,573,000 after purchasing an additional 20,679 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Amalgamated Financial by 16.2% during the 1st quarter. SG Americas Securities LLC now owns 24,832 shares of the company’s stock valued at $714,000 after purchasing an additional 3,453 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

Amalgamated Financial Trading Down 0.8%

NASDAQ:AMAL opened at $28.89 on Friday. The company has a market cap of $869.88 million, a PE ratio of 8.65 and a beta of 0.89. The business’s 50 day moving average is $30.60 and its two-hundred day moving average is $30.11. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.10. Amalgamated Financial Corp. has a 52 week low of $25.03 and a 52 week high of $38.19.

Amalgamated Financial (NASDAQ:AMAL) last issued its earnings results on Thursday, July 24th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.02). Amalgamated Financial had a return on equity of 15.21% and a net margin of 23.60%.The business had revenue of $82.18 million for the quarter, compared to analyst estimates of $82.52 million. On average, analysts predict that Amalgamated Financial Corp. will post 3.65 EPS for the current year.

Amalgamated Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Tuesday, August 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. Amalgamated Financial’s dividend payout ratio (DPR) is currently 16.77%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered Amalgamated Financial from a “neutral” rating to an “underweight” rating and cut their target price for the company from $34.00 to $27.00 in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Insider Transactions at Amalgamated Financial

In other Amalgamated Financial news, EVP Sean Searby sold 4,106 shares of Amalgamated Financial stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $29.77, for a total value of $122,235.62. Following the completion of the transaction, the executive vice president directly owned 12,303 shares in the company, valued at $366,260.31. The trade was a 25.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 8,044 shares of company stock valued at $239,256 over the last quarter. Company insiders own 1.29% of the company’s stock.

About Amalgamated Financial

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States. The company accepts various deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, and certificates of deposit.